SunTrust Banks Weighs in on Public Storage’s FY2018 Earnings (PSA)

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Public Storage (NYSE:PSA) – Equities research analysts at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for Public Storage in a research note issued to investors on Wednesday, August 15th. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $10.54 per share for the year, down from their prior forecast of $10.57. SunTrust Banks also issued estimates for Public Storage’s FY2019 earnings at $10.82 EPS, FY2020 earnings at $11.13 EPS, FY2021 earnings at $11.49 EPS and FY2022 earnings at $11.91 EPS.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.61). The company had revenue of $685.50 million during the quarter, compared to the consensus estimate of $686.32 million. Public Storage had a net margin of 55.00% and a return on equity of 30.37%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.51 EPS.

Other equities research analysts also recently issued research reports about the company. Argus upped their price objective on Public Storage to $250.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Barclays upped their price objective on Public Storage from $205.00 to $212.00 and gave the company an “equal weight” rating in a report on Tuesday, July 17th. ValuEngine upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Jefferies Financial Group reiterated a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. Finally, Citigroup upped their price objective on Public Storage from $200.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $208.33.

NYSE PSA opened at $220.86 on Monday. The stock has a market capitalization of $38.95 billion, a P/E ratio of 21.75, a P/E/G ratio of 4.29 and a beta of 0.26. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.29. Public Storage has a 12 month low of $180.48 and a 12 month high of $234.90.

Institutional investors have recently made changes to their positions in the business. Silvant Capital Management LLC bought a new stake in shares of Public Storage in the first quarter worth about $101,000. NuWave Investment Management LLC increased its holdings in shares of Public Storage by 1,693.9% in the first quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 559 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Public Storage in the first quarter worth about $132,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of Public Storage in the second quarter worth about $142,000. Finally, Quad Cities Investment Group LLC bought a new stake in shares of Public Storage in the second quarter worth about $151,000. Institutional investors own 82.31% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 12th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.62%. Public Storage’s dividend payout ratio (DPR) is currently 78.20%.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Earnings History and Estimates for Public Storage (NYSE:PSA)

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